The excitement traders are feeling at this moment is incomprehensible. It is barely a week after the $16,000 milestone, and now Bitcoin has hit $17,000. It is not all too surprising as most traders expected this rise and are eyeing a new all-time high price for Bitcoin.
Bitcoin continues to break new bounds as the prices surged to more than 60% in less than two months. BTC is fast approaching the 2017 high of $17,178 as the bullish trend continues. During the 2017 surge, bitcoin traders were not as much as this as it was not popular back then as it is now.
Now, it almost seems certain that history is about to repeat itself. But this time, it is going to be different. The increased recognition will likely push the prices further way above the previous all-time high. For now, traders can bask at the moment with the assurance that BTC will likely hit $17,300 today and may even exceed it.
The $17,000 surge is remarkable as traders continue to defy the odds and push the market upward. Any fear of a dip and profit-taking when Bitcoin first got to $16,000 and above looks to all be in the past now.
Traders got back to the market after the little selloff and continued propelling the market upward. RSI was on the rise as most of the time, it is either in the overbought region or close. At the of writing, a BTC is $17,133, and RSI is on the rise.
With the current bullish momentum, prices will break more resistance than support. The $17,300 and the more subtle $17400 resistance levels may be broken any time from now, as Bitcoin searches for new yearly highs. On the other hand, if a large selloff occurs, prices may fall to the $16k region.
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